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Yu Xubo Attended International CEO Roundtable of Chinese and Foreign Multinational Corporations Release Time : 2019-03-26
On March 25, COFCO Corporation deputy party secretary and President Yu Xubo was invited to attend International CEO Roundtable of Chinese and Foreign Multinational Corporations co-sponsored by the State-owned Assets Supervision and Administration Commission (SASAC) and United Nations Global Compact. At the roundtable, Mr. Yu exchanged and discussed ideas surrounding the theme of “‘Belt and Road’ built jointly by responsible corporations and sustainable development promoted by cooperation and win-win”, advocated fulfillment of corporate social responsibility and planned sustainable development effort together with other CEOs. Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) Xiao Yaqing and Executive Director of the United Nations Global Compact Lise Kingo attended and addressed the roundtable.

In his speech, Xiao Yaqing noted that centrally-administered SOEs have been highly acknowledged by the international community and relevant countries for their active response to “Belt and Road” initiative, abidance by laws and business regulations in countries where they operate, care taken to protect ecological environment, drive for localized growth, promotion of local employment, and harmonious co-existence with local communities. Centrally-administered SOEs will adhere to sustainability principles, strengthen cooperation with foreign enterprises in the field of sustainable development, plan together and push forward in a pragmatic manner to continuously inject new life and vitality into Belt and Road-related countries.

Lise Kingo pointed out that principles of “joint discussion, joint construction joint use” advocated by “Belt and Road” initiative have the same implications as the ten principles of the UN Global Compact. She hoped that CEOs would make use of this roundtable as a favorable opportunity to further strengthen cooperation, push for sustainable corporate development, and make active contribution to the construction of “Belt and Road”.

During the exchange and discussion, Yu Xubo expressed his thanks to the United Nation Global Compact and SASAC for their support to help enterprises achieve sustainability goals. As China’s largest agricultural and food conglomerate, COFCO Corporation has always set UN 2030 sustainable development goals as its benchmark. With sustainability as one of its four major core values, COFCO has formulated sustainable development strategy and laid down specific objectives and development requirements regarding five aspects (i.e. adherence to business code, care for employees, mitigation of environmental impacts, responsible connection of supply and demand, and construction of powerful communities).

Vice chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) Ren Hongbin presided over the roundtable. Heads of SASAC offices and bureaus, over 40 Chinese and foreign CEOs and representatives of some international organizations in China attended the roundtable.
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